Nearly every person knows that the process of divorce can quickly get complicated. One of the most difficult parts of a marital breakup in Kansas is often dividing property and assets among spouses. This experience can sometimes make a spouse want to hide their assets and possessions in an attempt to protect them. However, hiding assets in a divorce is not only illegal, but it can create problems for all parties involved. Here are some common ways a spouse may try to hide assets amid a divorce.
Bank accounts
One common way spouses may try to hide assets or money is by creating different bank accounts. For example, the spouse may set up bank accounts in the names of the children and deposit money. Also, spouses may attempt to hide money with their parents. Some spouses may even open a bank account in their soon-to-be ex-spouse’s name and deposit money.
Cryptocurrencies
These days, it is becoming more and more common to see spouses attempt to hide assets in the form of cryptocurrencies such as Bitcoin. The primary reason they may do this is because of the anonymity of cryptocurrencies. However, cryptocurrencies are not truly anonymous. With dedicated time and effort, these types of accounts can be uncovered.
If a person suspects that his or her spouse is hiding assets, proof must be obtained. Usually, a judge will not reevaluate the division of property unless hard evidence against the spouse is provided. Those who are going through a divorce and suspect that a spouse may attempt to hide assets should stay alert throughout the divorce process and keep a close eye on all valuable assets, monetary and otherwise. Those in Kansas who need help with any aspect of divorce should consider speaking with an experienced family law attorney who can answer questions and guide them through the process.
